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WARRENDALE, Pa. - Limbach Holdings, Inc. (NASDAQ:LMB) reported better-than-expected fourth quarter earnings and provided upbeat guidance for 2025, sending shares up 1.5% in after-hours trading.
The building systems solutions provider posted adjusted earnings per share of $1.15 for Q4, handily beating analyst estimates of $0.79. Revenue came in at $143.65 million, slightly below the consensus forecast of $149.37 million but up 0.7% year-over-year.
Limbach’s fourth quarter net income surged 87.5% to $9.8 million, or $0.82 per diluted share, compared to $5.2 million, or $0.44 per share, in the same period last year. Adjusted EBITDA jumped 65.5% to a record $20.8 million.
For the full year 2024, Limbach achieved record net income of $30.9 million, up 48.8% YoY, and record adjusted EBITDA of $63.7 million, a 36.1% increase.
"In 2024, we produced record gross profit, record net income and record adjusted EBITDA by expanding and strengthening customer relationships in six verticals," said Michael McCann, President and CEO of Limbach Holdings.
Looking ahead, the company provided an optimistic outlook for 2025, projecting revenue between $610 million to $630 million, above analyst expectations of $597.3 million. Limbach also forecast adjusted EBITDA of $78 million to $82 million for the year.
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